## A Glance AT LDO Price To Assess The Next Move Ahead?

2 oct

Lido DAO (LDO) witnessed an impressive surge of nearly 175% at the start of Q1 2024, pushing its price toward the $4.00 mark. However, the rally was short-lived as bears, armed with heavy sell orders, quickly gained control. This drove the price down from the supply zone’s peak.

Despite several attempts to hold onto gains, investor confidence remained shaken, leading to continuous sell-offs. The unrelenting bearish pressure, has contributed to the token's lackluster performance in recent months.

Various market events have fueled broader negative sentiment over the past 48-72 hours. As a result, Lido DAO’s price continued to decline, deflected from the upper edge of a wedge formation before heading towards a key demand zone.

At the time of writing, LDO was trading at $1.156, approaching critical support levels. If the price continues to fall, the $1.00 level is the next major support to watch.

On the flip side, a market revival would require LDO to break above $1.50 and $1.75 to signal a potential change in trend. For now, the outlook remains cautious as Lido DAO faces ongoing pressure from bearish market forces.